Preview

Evaluate the Possible Consequences of Michelin Failing to Meet Its Aims and Objectives

Satisfactory Essays
Open Document
Open Document
488 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Evaluate the Possible Consequences of Michelin Failing to Meet Its Aims and Objectives
Unit 2 Distinction: Evaluate the possible consequences of Michelin failing to meet its aims and objectives
Aims and objectives are the `ends` that an organisation seeks to achieve. It then has to decide the means it will use to achieve those ends.
Aims- facilitate mobility, long term performances.
Objectives- markets and customers, employees, economic performances, environmental policy and product/manufacturing. These provide guidance for management actions.
Most organisations have general or overall aims which they can break down into specific objectives and aims. If aims and objectives fail to be successful there is a change the business will no longer work out. Michelin will have many consequences if the business fails to meet aims and objectives.
Meeting stakeholder’s needs: Michelin looks to combine high levels of all stakeholder groupings. The company recognises that its long-term development depends on maintaining a balance between the needs of customers, employees, shareholders and the environment. This involves not only considering the `individual benefit` of a particular stakeholder grouping, but also the `collective benefit` of all the groups. Michelins policy on products and services reflect this approach.
Michelin recognises that its long term success and development depends on maintaining a balance between all of its stakeholders needs.
If there is an Impact on the stakeholders – Employees will not have a safe, secure job and may have to take a pay cut or reduce hours they work, this may lead employees to look into finding a different job where they know the business is successful. They may not get the level of training they have been used to.
Customers may no longer be able to buy the same quality of goods and services if they fail to meet their aims and objectives this will be a big downfall in the business, they could lose customers which will make the business very unsuccessful.
Shareholders may not receive the same return on

You May Also Find These Documents Helpful

  • Powerful Essays

    Aims are the goals that the company want to achieve. Objectives are detailed steps the company create in order to achieve their goals. The company will also have targets they will want to meet in the future, to improve their customers’ overall experience with themselves. They aim to increase profit by following the objective steps carefully, building the company up step by step.…

    • 1765 Words
    • 8 Pages
    Powerful Essays
  • Satisfactory Essays

    BTEC level 3 Unit 1

    • 1332 Words
    • 6 Pages

    Aims are goals set for a business that are achievable over a period of time, objectives are small goals set to make the aim possible.…

    • 1332 Words
    • 6 Pages
    Satisfactory Essays
  • Powerful Essays

    Buss3 Exam Guide

    • 6948 Words
    • 28 Pages

    Businesses will set a range of functional objectives e.g. minimising costs and increasing market share…

    • 6948 Words
    • 28 Pages
    Powerful Essays
  • Powerful Essays

    Business and Admin unit4

    • 1286 Words
    • 6 Pages

    Without certain changes your internal and external customers will not stay satisfied with your products or the services that you provide the company would not then be able to meet its objectives or targets and for some companies the consequences could result in the company no longer being required…

    • 1286 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    Lafluer Trading Company

    • 923 Words
    • 4 Pages

    Lafleur Trading Company has clearly identified the mission of the organization, which is providing high quality, organic products at competitive prices (Apollo Group, 2011). A company’s mission embodies the unique purpose it serves to meet and is developed with the values the leadership intends to infuse in the execution of its business. At Lafleur, they are committed to a high quality product, which meets the needs of their customers in an ethical manner. The importance for any business to identify its mission is to describe the expectations it plans to meet on a daily basis, expressing the organizational attitude to all its stakeholders. The values the leadership holds dear, like seeking out the most reputable producers of products and certifying those products meet the highest standards, provides insight into the commitment of Lafleur’s leadership to their values and mission.…

    • 923 Words
    • 4 Pages
    Good Essays
  • Good Essays

    unit 6 assessment

    • 2371 Words
    • 9 Pages

    Objectives can include maximising profits, minimising costs, developing new products, satisfying customers and managing risk.…

    • 2371 Words
    • 9 Pages
    Good Essays
  • Better Essays

    CMI LEVEL 5

    • 3651 Words
    • 12 Pages

    Setting of organisational objectives is the starting point of managerial actions. An organisation’s end results for which an organisation strives is termed as mission, purpose, objective, goal, target etc. Many times, these terms are used interchangeably as all these denote end results. This unit is about providing direction to people in the organisation and enabling, inspiring, motivating and supporting them to achieve what the organisation has set out to do. It is expected to apply different styles of leadership appropriate to different people and situations. For the purposes of this unit, an organisation can mean a self-contained entity such as a private sector company, a charity or a local authority, or a significant operating unit, with a relative degree of autonomy, within a larger organisation.…

    • 3651 Words
    • 12 Pages
    Better Essays
  • Good Essays

    Unit 20 P3

    • 2035 Words
    • 9 Pages

    A business needs to take account of the interests of all of its stakeholder’s groupings. These interests are all linked together. For example if George was to throughout all of his old machines and hair products and buy newer and better ones this will have an effect;…

    • 2035 Words
    • 9 Pages
    Good Essays
  • Powerful Essays

    It is important for a business to have aims and objectives, because without aims and objectives the business will have no targets, so it cannot compare…

    • 3281 Words
    • 14 Pages
    Powerful Essays
  • Good Essays

    The first step in any decision-making process is to make sure the business has a clear set of goals objectives and outcomes for the business, that all the team understands and is on board with. Objectives can be company-wide goals, specific to the division or department and individual employee expectations. Business owners often use performance management to follow up on objectives and measure the company’s overall achievement effectiveness. The reasons it is it important to have clarity around the definition of objectives, scope and success criteria in relation to decisions being taken, include: • To be efficient and effective in decision making; • To ensure that decisions are ‘fit for purpose’; • To solve the ‘right’ problem at its…

    • 814 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Michelin

    • 831 Words
    • 4 Pages

    Michelin (full name: SCA Compagnie Générale des Établissements Michelin) is a tyre manufacturer based in Clermont-Ferrand in the Auvergne région of France. It is one of the two largest tyre manufacturers in the world along with Bridgestone.In addition to the Michelin brand, it also owns the BFGoodrich, Kleber, Tigar, Riken, Kormoran and Uniroyal (in North America) tyre brands. Michelin is also notable for its Red and Green travel guides, its roadmaps, the Michelin stars that the Red Guide awards to restaurants for their cooking, and for its company mascot(талисман) Bibendum, colloquially known as the Michelin Man.…

    • 831 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    many product firsts At the end of December 2005 , Michelin posted 36 percent growth in its net income at EUR 889 million (USD 1 .049 billion ) with over EUR 15 .59 billion (USD 18 .40 billion ) in net sales , up 3 .6 from the previous year . While the tire industry continues to consolidate in the short term , Michelin has continued to expand its product line and operations into new regional markets . Currently , the company has a global sales network in 170 countries , 71 manufacturing plants in 19 countries , 6 rubber tree plantations in Brazil and Nigeria , and an extensive Brand Portfolio , which includes Michelin and BF Goodrich as the flagship brands of the company as well as 2 distribution networks namely Eurometer and TCI…

    • 499 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Michelin Growth

    • 766 Words
    • 4 Pages

    MICHELIN WORLDWIDE STRATEGY CORPORATE GOVERNANCE SUSTAINABLE MOBILITY Leveraging our Strengths HISTORY THE MICHELIN MAN GROUP MEDIA GALLERY The changing face of Mobility Supporting new types of Demand Our Growth Strategy…

    • 766 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Apollo Tyres Ltd continues to be a high performance company and has global aspirations which are reflected in their objective and vision.…

    • 904 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Introduce The Company

    • 981 Words
    • 3 Pages

    The Michel Corporation is such an integral part of our daily needs of owner and the employees that is difficult to imagine life of our workers without the one.…

    • 981 Words
    • 3 Pages
    Good Essays